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The Plot Thickens for the Future of Student Lending
13 April 09 05:00 PM | Student Loan Girl | 0 Comments   

It’s “all hands on deck” for federal student loan lenders, who have made it abundantly clear that they’re not going to roll over and accept the terms of the Obama administration’s proposal to axe their Federal Family Education Loan Program in favor of the Education Department’s Direct Loan Program without a fight. Read More...

Filed under: Albert Lord, Allen Boyd, college, college loans, Congressional Budget Office, default prevention, Direct Loan Program, Education Department, Federal Family Education Loan Program, federal loan program, federal student loans, FFEL program, FFELP lenders, Florida representatives, government bailout, government loan program, NextStudent, Obama administration, Pell Grant program, private lenders, representative Timothy Bishop, Sallie Mae, Southampton College, state loan guarantee agencies, student loan companies, student loan providers, student loans, The New York Times

Federal Student Loan Lenders Fight for Survival
30 March 09 04:52 PM | Student Loan Girl | 0 Comments   

In what is being viewed as a direct hit to private third-party lenders in the Federal Family Education Loan Program who are fighting to keep the program alive, the U.S. Department of Education’s preliminary data paints the FFEL program as a costly and Read More...

Filed under: American Council of Education, Barack Obama, Brett Lief, college, college loans, Congressioanl Budget Office, Consumer Bankers Association, direct loan borrowers, Direct Loan Program, direct loans, Education Department loans, Federal Family Education Loan Program, Federal Pell Grant Program, federal Pell Grants, Federal Student Loan Program, federal student loans, federal subsidies, FFEL program, FFELP, FFELP lenders, National Council of Higher Education Loan Programs, NextStudent, Obama administration, Obama legislation, Obama proposals, President Obama, Sallie Mae student loans, state student loan guarantee agencies, student loan borrowers, student loan default prevention programs, student loan default rate data, student loan default rates, Student Loan Legislation, student loans, Terry Hartle, The Wall Street Journal, U.S. Department of Education, U.S. Freedom of Information Act

More Schools Offering Direct Student Loans
13 March 09 02:25 PM | Student Loan Girl | 0 Comments   

The direct student loan program — which President Obama wants to establish as the sole provider of federal student loans by 2010 — is swiftly gaining ground on the Federal Family Education Loan Program. Read More...

Filed under: Barry Feierstein, college, college financial aid, college loans, Department of Education, Direct Loan Program, direct student loan program, Federal Family Education Loan Program, federal student loans, FFEL program, financial aid, NextStudent, originator of federal student loans, paying for college, poor customer service, President Obama, private student loan lenders, private third party lenders, Sallie Mae, Sandra Block, student loan default, student loan industry, student loans, surge in loan volume, tuition, USA Today

74% of Sallie Mae Loans Could Disappear Under Obama Plan
12 March 09 12:21 PM | Student Loan Girl | 0 Comments   

Sallie Mae — the largest provider of college student loans in the country — may ultimately see three quarters of its student loan business evaporate under a plan by President Obama that would end government subsidies to third-party lenders and establish the federal government as the sole provider of federal student loans. Read More...

Filed under: Arne Duncan, Billings, Bloomberg.com, Caroline Salas, college, college financial aid, college loans, Direct Loan Program, Education Secretary Arne Duncan, Federal Family Education Loan Program, federal government, federal student loans, FFELP, financial aid, Jody Shenn, Matt Snowling, NextStudent, paying for college, Portales Partners, President Obama, private lenders, private third party lenders, Sallie Mae, student borrowing, student loan marketplace, student loans, tuition, William Ryan

Direct Loan Program Gaining Ground on Bank-Based FFEL Program
29 October 08 04:27 PM | Student Loan Girl | 0 Comments   

According to a recent survey of college financial aid directors, the federal government’s Direct Loan Program — through which families get federal student loans directly from the Department of Education — could eclipse the government’s now dominant Federal Read More...

Filed under: bank-based FFEL program, college loans, colleges, Department of Educaiton, direct lenders, Direct Loan Program, Federal Family Education Loan Program, federal student loans, FFELP, financial aid, NextStudent, Student Lending Analytics, student loans, The Chronicle of Higher Education, third-party lenders, universities

Government’s Direct Lending Program Sees 43-Percent Increase in Volume
02 September 08 05:36 PM | Student Loan Girl | 0 Comments   

As cash-strapped lenders continue to drop out of the Federal Family Education Loan Program , the number of student loans originated for the 2008–09 school year through the government’s Direct Loan Program has increased by 43 percent, reports The Chronicle Read More...

Filed under: Anna Griswold, college, College Cost Reduction and Access Act, college loans, credit crisis, Department of Education, direct lending program, Direct Loan Program, Education Department inspector general, education secretary, Federal Family Education Loan Program, Federal Student Loan Program, federal student loans, FFEL program, FFELP, financial aid administrators, H.R. 2669, House Committee on Education and Labor, Margaret Spellings, NextStudent, Penn State, Penn State student loans, Pennsylvania Higher Education Assistance Agency, private lenders, private student loans, Student Lending Analytics, student loan crisis, subprime mortgage crisis fallout, The Chronicle of Higher Education

Penn State’s Switch to Direct Loan Program Underway, So Far So Good
11 July 08 04:43 PM | Student Loan Girl | 0 Comments   

Pennsylvania State University said its transition over to the federal Direct Loan Program is going “smoothly.” Already about 3,000 borrowers have taken out $5 million in student loans under the new program this summer, according to an article in The Daily Read More...

Filed under: Anna Griswold, college loans, credit markets, Direct Loan Program, Federal Family Education Loan Program, federal student loan lenders, federal student loans, FFELP lenders, financial aid, graduate PLUS loans, NextStudent Scholarship Search Engine, parent PLUS loans, Pennsylvania State University, Stafford student loans, student loan borrowers, student loans, The Daily Collegian